What Is Standard Tax Deduction For 2024 In India. Finance minister nirmala sitharaman said that new tax regime slabs will be changed and standard tax deduction increased from 50,000 to 75,000. Finance minister nirmala sitharaman announced changes to the new income tax regime during the union budget 2024 presentation, providing some relief to.

Dipesh jain, partner, economic laws practice said, fm is expected to hike standard deduction. Prominent tax and consultancy firm ey has presented a case for doubling the standard deduction under the concessional tax regime to rs 1 lakh or increasing.